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Wealth Watch: From Resistance to Rocket Fuel – What We’re Seeing

From Resistance to Rocket Fuel – What We’re Seeing

POSTED BY: VANCE HOWARD

5-12-25-SPX

The HCM-BuyLine® went positive last week, and we were buyers on Thursday and Friday. The S&P 500 has now closed above the 200-day moving average (MA) and it is hitting resistance at the 150-day MA. If we get a break above the 150-day MA, we see the next possible highs of the year around 6100. The QQQs did break above the 150MA and the 200MA, so we think it is probably pretty clear sailing back to around 538 before the chance of hitting serious resistance.

President Trump announced he plans to sign an executive order on Monday that will reduce the cost of prescription drugs and pharmaceuticals “almost immediately, by 30% to 80%.”

As for drug prices, keep in mind that drugs are at 1.35% of the CPI basket. An 80% reduction is a 100bp reduction in CPI. The CPI could drop by a lot, which is very impactful. The US is paying 3 to 4 times what other countries are paying. this executive order requires the US to pay “most favored nation” status, or the lowest available price. Trump noted he believes drug prices would rise elsewhere.

5-12-25-ESE

Three stocks to look at that appear ready to move higher are ESCO Technologies (ESE), Salesforce (CRM), and DigitalOcean Holdings (DOCN).

5-12-25-CRM

5-12-25-DOCN

By Ryan Fleming|2025-05-13T16:01:30+00:00May 13th, 2025|Uncategorized|0 Comments

About the Author: Ryan Fleming

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